New Delhi: Taking a step ahead towards Digital India and cashless India, WhatsApp could soon launch its digital payment system.
As per reports the payment system could be based on Unified Payments Interface (UPI). Some media reports also say that the money transfer facility could be launched as soon as October.
According to a job advertisement on WhatsApp’s website, the company is looking for a candidate with technical and financial background, who also has an understanding of Unified Payments Interface (UPI), BHIM payments app and Aadhaar number.
The job responsibilities would include collaboration with banks to resolve WhatsApp user issues and being “an advocate for the users of our digital transactions service to the rest of the company”, it added.
Following the government’s move to ban old notes of Rs 500 and 1,000 in November last year, there has been a massive growth in digital transaction volumes in India, including credit/debit cards, mobile banking/m-wallets and UPI.
WhatsApp has almost become the default messaging app for people in countries like India and Brazil. In India, it competes with the likes of Hike, Snapchat and Viber.
The company had said it would focus on rolling out commercial messaging this year for businesses as it looks to tap into enterprises for monetising its platform.
Last year, the app had stopped charging USD 1 per year subscription fee to go completely free for users across the world.
While WhatsApp does not intend to introduce any third- party ads for monetisation, it has said the company will test tools that allow users to communicate with businesses and organisations like banks and airlines through its platform.